OAK BROOK, Ill. — Tim Fenton, COO of McDonald’s Corp., has announced plans to retire, effective Oct. 1.
“I’sm making a difficult and personal decision to retire,” said the 56-year-old. “It’s widely known that I battle severe asthma. I simply cannot continue to meet the global travel demands of this position and will focus on improving my health closer to home.”
McDonald’s will not replace the COO role, but it will broaden responsibilities of two senior leaders: Pete Bensen, EVP and CFO and Steve Easterbrook, EVP and global chief brand officer.
“We are confident Pete, Steve and our global leadership team will remain focused on driving the business forward and delivering an outstanding restaurant,” said Don Thompson, president and CEO of McDonald’s Corp.”On behalf of the entire McDonald’s System, I salute Tim for his 41 years of continuous service to McDonald’s and want to thank him for his countless contributions to our business.”
Fenton joined McDonald’s as a crew member in Utica, N.Y. in 1973.